Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) shares rose 3.6% during mid-day trading on Friday . The company traded as high as $7.84 and last traded at $7.88. Approximately 4,714 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 46,082 shares. The stock had previously closed at $7.60.
Analyst Ratings Changes
Separately, Wall Street Zen cut shares of Reservoir Media from a "hold" rating to a "sell" rating in a report on Friday.
Check Out Our Latest Stock Report on Reservoir Media
Reservoir Media Trading Up 1.8%
The company has a market capitalization of $506.86 million, a P/E ratio of 70.64, a PEG ratio of 7.16 and a beta of 0.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a fifty day moving average of $7.31 and a 200 day moving average of $7.97.
Reservoir Media (NASDAQ:RSVR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Reservoir Media had a return on equity of 2.20% and a net margin of 5.04%. The business had revenue of $41.42 million during the quarter, compared to analysts' expectations of $40.31 million. As a group, equities research analysts anticipate that Reservoir Media, Inc. will post 0.11 EPS for the current fiscal year.
Institutional Investors Weigh In On Reservoir Media
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Pacific Advisors LP bought a new position in shares of Reservoir Media in the first quarter worth approximately $50,000. BNP Paribas Financial Markets purchased a new position in shares of Reservoir Media during the 4th quarter valued at $51,000. Corton Capital Inc. bought a new position in Reservoir Media in the 1st quarter worth $105,000. Wells Fargo & Company MN boosted its holdings in Reservoir Media by 22.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,851 shares of the company's stock worth $125,000 after buying an additional 2,531 shares during the period. Finally, Meridian Wealth Advisors LLC increased its stake in Reservoir Media by 49.7% in the 4th quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company's stock worth $136,000 after buying an additional 4,974 shares in the last quarter. Institutional investors own 44.38% of the company's stock.
About Reservoir Media
(
Get Free Report)
Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.
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